What percentage of closing costs can I ask for when using FHA financing? - fha closing costs
Are you looking to buy a house in Stockton, California, and I would ask the seller to pay some closing costs. I use a FHA loan and have been informed, is the maximum amount of closing costs that I can ask 3%. I wonder if this is true or if I can ask for further information.
Fha Closing Costs What Percentage Of Closing Costs Can I Ask For When Using FHA Financing?
3 comments:
is 6%. However, I would like to know how close your lender before the offer.
If the fence is 3%, so do not ask for 6%, as if the value of 6% of them, if you look at the baseline. In other words, it may be better than 3% and make 3% on the price.
The seller is entitled to condemn only the actual closing costs. That is, if the current closure of 2.75% of the purchase price and the requested 3% means the seller would pay only 2.75% and is "lost" 25%.
So you can not! give 25% in cash and liquidation.
You may request a maximum of 6% in closing costs assistance, but there are limits to read in order to determine whether they apply to you. They should be fixed savings from the initial cash payment of all his.
Remember, the FHA does not loan money. You lose "lock" your loan at the bank any money. They must therefore not complied with the standards of the lender of your choice.
No, 6%.
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